Culpeo Minerals Limited (ASX:CPO) has confirmed it has increased its interest in the Las Petacas Copper Project to 66%, following the satisfaction of certain conditions of the earn-in-agreement in respect of the Las Petacas Project in Chile.
The Las Petacas Project is the company’s flagship asset, where drilling has recently intersected broad zones of copper mineralisation over a strike length of 500m, within an overall copper mineralised trend exceeding 6km in strike length.
Highlights
- Culpeo has earned an additional 8% interest in the Las Petacas Project, for an aggregate 66% interest in the Project.
- Culpeo has the right to earn a maximum 85% interest in the Las Petacas Project.
- Phase 1 drilling program completed on the Peta 1 and Diego Prospects confirms the presence of broad zones copper-gold mineralisation in all holes.
- Majority of the >6km copper mineralised trend remains untested by drilling.
- Additional drilling planned over the undrilled Diego East and Far East Prospects, where geophysics surveys have identified multiple copper targets.
- Culpeo continues to advance its pipeline of targets across the Las Petacas Project.
“We are pleased to have completed this phase of our earn-in agreement for the Las Petacas Project in Chile. The increase in Culpeo’s ownership underpins our belief of the potential of Las Petacas to host copper mineralisation in the world class Atacama IOCG region,” Managing Director, Max Tuesley, said.
“Drilling at Las Petacas is continuing into 2022 aiming to delineate additional copper-gold mineralisation within this extensive and highly prospective tenement package and we look forward to updating the market with additional assay results in the coming weeks.”
Las Petacas Project
The Las Petacas Project is located in northern Chile, approximately 640km north of the Chilean capital, Santiago and 35km south of the regional capital of Copiapó in the Atacama Region (Region III). The low-altitude Atacama Region is known to host significant mineral potential.
One of the region’s main copper deposits is Lundin Mining Corporation’s world-class Candelaria mine, located 20km northeast of Las Petacas. Copper mineralisation at Las Petacas is interpreted to be associated with the same regional structure as Candelaria. Las Petacas is considered prospective for mineralisation generally referred to as iron-oxide-copper-gold (IOCG)
For further information please visit: https://www.culpeominerals.com.au/
